Entries in wholesale prices (35)

Friday
Oct302015

Summer 2015: The lowest natural gas and power prices since 2003

The summer of 2015 in New England stands out, but not because of the weather. Overall, the summer was relatively mild and consumer demand for electricity was about average. The reason this summer was remarkable: Wholesale power prices were the lowest they’ve been since the competitive wholesale electricity markets were launched in 2003. The average real-time wholesale electricity price for June, July, and August was $26.86 per megawatt-hour (MWh). The second-lowest summer average price occurred the previous summer, during June, July, and August of 2014, at $34.31.

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Thursday
Dec182014

Energy market offer flexibility project explained: Q&A with Vamsi Chadalavada, ISO-NE’s executive VP and COO

On December 3, 2014, ISO New England completed major enhancements to the region’s wholesale energy market that will allow for more accurate price signals in the market and improve power grid reliability. View the press release, and continue reading to learn from Vamsi Chadalavada, ISO New England’s executive vice president and chief operating officer, about the Energy Market Offer Flexibility project, the reasons for undertaking such a massive project, and the benefits to the region’s wholesale electricity markets and to power system reliability.

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Friday
Nov142014

How wholesale electricity costs factor into your retail bill

Limited natural gas availability is driving up wholesale electricity prices and ultimately retail prices

Every month, consumers across New England receive an electric bill from their local utility that includes charges associated with keeping the lights on. A typical residential electric bill generally includes two types of charges: the cost of delivering power and the cost of power itself.

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Tuesday
Jun172014

ISO-NE CEO visits NECN to discuss natural gas dependency, other challenges affecting the regional grid

The New England Cable News (NECN) station welcomed Gordon van Welie, president and CEO of ISO New England, on June 10, to be a guest on their show “CEO Corner,” hosted by business editor Peter Howe.

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Friday
Apr042014

Oil inventory was key in maintaining power system reliability through colder-than-normal weather during winter 2013/2014

The frigid temperatures that gripped much of the nation this winter posed operational challenges to the New England power grid, led to spikes in natural gas and wholesale electricity prices, and further highlighted issues related to resource performance and the importance of a secure fuel supply. In light of these challenges, here and across the country, the Federal Energy Regulatory Commission (FERC) hosted a Technical Conference on April 1, to hear from ISO New England, New York ISO, PJM Interconnection, Southwest Power Pool, Midcontinent ISO, California ISO, and other industry representatives about the impact of the cold weather on power system operations in different parts of the country.

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Tuesday
Mar182014

Higher natural gas prices pushed up prices for wholesale electric energy in 2013

Pipeline constraints and higher demand pushed up prices for both natural gas and power

Natural gas pipeline constraints and higher demand in New England caused the average price of natural gas to rise 76% in 2013, which in turn pushed the wholesale electric energy price up by 55% over 2012’s record low price. Natural gas is the predominant fuel used to generate the region’s electricity, at about 46% of total generation in 2013, so wholesale power prices tend to track the price of natural gas. Preliminary data show that the wholesale energy price averaged $56.06 per megawatt-hour (MWh) in 2013, while natural gas averaged $6.97 per million British thermal units (MMBtu). The wholesale energy price was 30% lower than the all-time high of $80.56/MWh during 2008.

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